Singapore projects 2030 growth
- Published: 29 Jan 2013 at 15.07
- Online news:
Singapore said it will boost its population by as much as 30% by 2030 with more foreigners in the country as it competes with other Asian nations that have younger labour forces.
The island's population may reach as much as 6 million in 2020 from 5.3 million now, and the number of people may increase to 6.9 million by 2030, the government said in a white paper released today. Gross domestic product growth may average 3-4% percent annually up to 2020, and the economy may expand 2-3% a year in the following decade, it said.
Record-high housing and transport costs, public discontent over an influx of foreigners and infrastructure strains are weakening approval for the only party that has ruled Singapore since independence in 1965. Prime Minister Lee Hsien Loong's government is under pressure to placate voters without disrupting the entry of talent and labour that helped forge the only advanced economy in Southeast Asia.
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